NEUILLY-SUR-SEINE (dpa-AFX) - French technology company Thales (THLEF.PK) reported Tuesday that its fiscal 2018 consolidated net income, Group share grew to 982 million euros from last year's 822 million euros. Net income also surged 44 percent from net income of 680 million euros, restated for IFRS 15, last year.
Adjusted net income, Group share was 1.18 billion euros or 5.55 per share, compared to 982 million euros or 4.64 euros per share a year ago. Restated for IFRS 15, adjusted net income was 840 million euros or 3.97 euros per share in the prior year.
EBIT was 1.69 billion euros, up 23% on a reported basis and also up 25% on an organic basis from the prior year. EBIT margin increased 1.6 percentage points to 10.6 percent.
Sales for the year rose to 15.86 billion euros from last year's 15.80 billion euros and also increased 4.1 percent from a restated 15.29 billion euros in the prior year. Sales increased 5.3 percent at constant scope and currency, driven by strong momentum in the Transport and Defence & Security segments.
Order intake in 2018 amounted to 16.03 billion euros, up from 14.92 billion euros and by 7 percent from a restated 14.93 billion euros a year ago. Order intake increased 9% on an organic basis.
At 31 December 2018, the Group's order book stood at 32.3 billion euros, which represents 2 years' worth of sales.
Further, Thales said its Board of Directors has decided to propose payment of a dividend of 2.08 euros per share, an increase of 19% compared to 2017.
Looking ahead to fiscal 2019, Thales expects that sales should see organic growth of between 3% and 4% compared to 2018. The annual order intake is expected to be around 16 billion euros.
Further, Thales expects to deliver an EBIT between 1.78 billion euros and 1.80 billion euros in 2019, representing an increase of 6% to 7% compared to 2018.
Over the 2018 to 2021 period, and based on February 2019 scope, the company has set the following medium-term objectives: organic sales growth of 3% to 5% on average over the period, and an EBIT margin of 11% to 11.5% by 2021.
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